2013 Year-End Summary Of Apparel Industry Listed Companies

Men's wear: the first three quarters of double declines increased to 7 businesses.

Performance has been good. Men's wear The operating conditions of Listed Companies in 2013 were in sharp decline. In the 13 men's clothing listed companies, in the first half of the year, there were 6 enterprises with revenue growth: YOUNGOR 7 billion 989 million yuan, an increase of 47.20% compared with the same period last year; the card slave road was 374 million yuan, an increase of 30.95% compared with the same period last year; the reported bird 10.38 billion, up 13.29% over the same period; the Chinese fir group 17.67 billion, up 12.88% over the same period last year; Revenue dropped 7 Enterprises: China Li Lang 1 billion 93 million yuan, down -13.20% compared to the same period last year; Georges white 295 million yuan, down -8.16% compared to the same period last year; Dayang created 3.44 billion yuan, down -7.22% compared with the same period last year; Busen shares 2.75 billion yuan, down -3.57% compared to the same period last year; 1 billion 423 million wolves 1 billion 423 million yuan, down -4.27% compared with the same period last year;

In terms of net profit, there were 6 growth in 13 enterprises in the first half of the year, 18 million 910 thousand yuan in Meyer, an increase of 96.94% over the same period last year, and 21 million 200 thousand yuan in the red beans, an increase of 16.90% over the same period last year; 86 million 600 thousand yuan in the card slave Road, an increase of 12.59% over the same period last year; YOUNGOR 960 million yuan, an increase of 8.81% over the same period; There were 7 enterprises that dropped: 11 million 320 thousand yuan in Busen shares, down -39.93% in the same period last year, 81 million 830 thousand yuan in the year-on-year drop, and 53 million 260 thousand yuan in the same period last year, and 53 million 260 thousand yuan in the same period last year, down by -29.41% compared with the same period last year; Georges white 38 million 870 thousand yuan, down by -19.08% compared with the same period last year; nine Mu Wang 290 million yuan, down -14.03% compared with the same period last year; the Chinese Li Lang 242 million yuan, down -12.80% compared to the same period last year; and the creation of 23 million 960 thousand yuan by Dayang, which was 23 million 960 thousand yuan lower than the same period last year, down -11.14% in the same period of last year.

Among them, the first half of the revenue and net profit double decline of 5 enterprises, for nine Mu Wang, China Li Lang, Dayang creation, Georges white and Busen shares. In particular, the double slide occurred on the top two business leisure giants, exceeding market expectations.

Worse is continuing. In the first three quarters, there were only two enterprises with double growth in revenue and net profit in 13 Enterprises: YOUNGOR's revenue was 11 billion 580 million yuan, an increase of 50% compared with the same period last year; net profit was 1 billion 320 million yuan, up 21.7% over the same period last year, but this was mainly driven by real estate and investment sectors; its brand clothing revenue increased 4.1% to 2 billion 930 million yuan compared to the same period last year, and the net profit fell by about 35%. Shanshan stock revenue 2 billion 840 million yuan, an increase of 7.78% over the same period, net profit of 117 million 500 thousand yuan, an increase of 15.03% over the same period, but this is mainly driven by the growth of lithium battery performance.

Revenue growth and net profit declined in two enterprises: the first three quarters of the company were 901 million yuan yuan, an increase of 14.92% compared with the same period last year. Net profit was 50 million 90 thousand yuan, down -47.52% compared to the same period last year. In the three quarter, the single quarter income was 279 million yuan, an increase of 21.7% over the same period last year. The growth rate of the first quarter increased obviously compared with 14.42% and 9.99% in the first, second quarter, but the net loss was the first time in a single quarter, with a net profit of -318 million yuan. Revenue and net profit has always maintained a high growth of the card slave Road, the three quarter also fell into the net profit decline queue. In the first three quarters, its revenue was 529 million yuan, an increase of 33.91% over the same period last year. Net profit was 98 million 239 thousand yuan, up 5.27% over the same period last year, but the single quarter revenue in the three quarter was 155 million yuan, up 41.68% over the same period last year, but net profit fell -29.08% to 11 million 634 thousand yuan.

In the first three quarters, the number of companies with double declines in revenues and net profits increased to 7 (China's Le lung did not announce the three quarterly report as of press release).

Seven wolves, news birds and Meyer three enterprises fell into double down taxi. Seven wolves revenue 2 billion 310 million yuan, down -8.1% compared to the same period; net profit of 370 million yuan, down -7.3% compared to the same period. The three quarter single quarter revenue of 887 million yuan, down -13.66% compared with the same period last year, net profit 116 million yuan, down -25.63% compared to the same period (Q1, Q2, Q3 revenue and net profit increased 0.5%, -12.6%, -13.66% and 7.2%, -2.7% and -25.6%) respectively. Reported bird revenue 1 billion 552 million yuan, down -9.43% compared with the same period last year, net profit of 157 million yuan, a sharp decline of -54.11% compared to the same period last year. The three quarter single quarter revenue of 515 million yuan, down -35.51% compared with the same period last year, followed by negative growth since the fourth quarter of last year, and net profit of 75 million yuan in single quarter, down -65.31% (Q1, Q2 decreased by -2.57%, -62%) compared with the same period last year. In terms of brand names, the main brands, San Jie Luo and Bao bird are still negative growth, HAZZYS growth is 30%-40%, but the proportion is not high. Meal revenue of 436 million yuan, a year-on-year decline of -0.48; net profit of 10 million 570 thousand yuan, a year-on-year decline of -24.37.

The 4 enterprises continued to double slide on the basis of the first half of the year. In the first three quarters, 9 Mu Wang's revenue was 1 billion 760 million yuan, down -1.2% compared to the same period last year. Net profit was 426 million yuan, down -9.6% compared to the same period last year. Busen shares closed 460 million yuan, down -6. 3%, and net profit was 13 million 515 thousand and 500 yuan, down -59.19% compared to the same period last year. In the three quarter, the single quarter revenue was 184 million 700 thousand yuan, down -10% compared with the same period last year. Net profit was 2 million 199 thousand yuan, a sharp decrease of -84.59% compared to the same period last year. George white camp collected 425 million yuan, down -6.78% compared to the same period last year; net profit was 44 million 112 thousand and 300 yuan, down -28.33% compared to the same period last year, of which three quarter single quarter revenue was 129 million 700 thousand yuan, down -3.48% compared with the same period last year; net profit 5 million 246 thousand and 300 yuan, down -61.18% compared with the same period last year. Dayang's revenue was 580 million yuan, down -8.75 compared to the same period last year, and its net profit was 41 million 865 thousand yuan, down -19.53 compared to the same period last year.

At the same time, these men's clothing enterprises have adjusted and closed down inefficient shops on a large scale, and the expansion of new stores has slowed down significantly. As of the first half of the year, 152 stores were closed by the seven wolves, while the 101 of them were reduced.

The macro consumer environment continues to slump, the industry is overcapacity, brand products and positioning homogenization are serious, the extensive expansion of the rapid horse racing enclosure, the "sequelae" highlighted, and the wholesale ordering mode are in urgent need of transformation. This is the deep-seated factor that leads to the overall predicament of men's clothing industry. However, these enterprises are now trying to seek transformation, strive to improve terminal operation capability, carry out meticulous management, speed up direct operation and transform into retail thinking, but it is still necessary for transformation to take time, and its short-term performance is difficult to improve.

Casual wear: terminal demand is still sluggish.

American Apparel is still in the mire of revenue and net profit this year. In the first half of the year, it achieved revenue of 3 billion 700 million yuan, down -18.7% compared with the same period last year, and net profit of 220 million yuan, down -48.5% compared with the same period last year.

Revenue in the first three quarters was 5 billion 760 million yuan, down -19.9% compared to the same period last year, and net profit was 383 million yuan, down -49.12% compared to the same period last year. Three quarter revenue was 2 billion 20 million yuan, down -21.95% compared to the same period last year. Net profit was 160 million yuan, down -49.93% compared to the same period last year. Quarterly view, from 2012 to 2013 Q1 Q3, its single quarter revenue growth was 27.17%, 14.02%, -13.47%, -26.55%, -15.72%, -23%, -22%, terminal demand has not yet improved.

As domestic Casual clothes The leading industry of the United States has been trying to break through the industry predicament and seek growth through continuous innovation. This year, the company has launched a series of changes such as organizational change, supply chain optimization, product innovation and experience store remodeling, such as the introduction of 6 new concept stores in the country within 30 days. The above innovation transformation is conducive to long-term development, but it can not be turned into performance in the short term. Compared with the average annual growth rate of over 20% of the children's clothing business, Semir has not yet cultivated a new growth point of high growth when it meets the predicament in the main business of casual wear. The fast fashion ME&CITY has been established for several years, but it is still in the breeding stage. The children's clothing business is still in the initial stage, which makes it difficult to improve its overall performance.

By contrast, Semir clothing is in a much better condition.

In the first half of this year, Semir's revenue and net profit had resumed growth, with revenue of 2 billion 724 million 975 thousand and 300 yuan, up 8.51% from the same period last year, and net profit of 284 million 163 thousand yuan, up 14.4% from the same period last year. The leisure wear main business income was 1 billion 802 million 664 thousand and 600 yuan, an increase of 2.55% over the same period. The main income of children's clothing was 894 million 939 thousand and 900 yuan, an increase of 23.20% over the same period last year. In the first three quarters, Semir's revenue was 4 billion 927 million yuan, up 6.85% over the same period last year, and net profit was 552 million yuan, up 16.48% from the same period last year. The three quarter single quarter revenue of 2 billion 202 million yuan, an increase of 4.86% over the same period, net profit of 268 million yuan, an increase of 18.76% over the same period. On the whole, the company's casual wear business has been vigorously going to inventory since last year, closing the non profitable shops and strictly controlling the expenses. At present, it gradually gets rid of the downturn and realizes the single digit growth. The children's clothing business has more than 20% growth in the first place of the industry, stimulating the overall performance growth. Moreover, Semir has been making frequent attacks this year, and the steady progress of multi brand layout has made its future development more promising.

Compared with the United States and Semir, the middle and low end positioning, the main line of attack on the three or four line city, and the annual revenue scale of more than ten billion yuan, has been called the "dark horse" in the field of mass casual wear. In the first half of the year, when the United States was still trapped in a double slide and Mori Mago began to resume growth, he searched for special revenue of 845 million yuan, an increase of 27.16% over the same period, and a net profit of 130 million yuan, an increase of 35.16% over the same period last year. In the first three quarters, its revenue was 1 billion 314 million yuan, up 18.18% over the same period last year, and net profit was 204 million yuan, up 16.22% from the same period last year. The three quarter single quarter revenue of 469 million yuan, an increase of 4.85% over the same period, net profit of 74 million yuan, down 6.5% over the same period. If we compare with ourselves, the market pressure has been great since this year, and the growth of revenue has continued to slow down. In 2012 Q1-2013 Q3, its single quarter revenue growth was 48%, 49%, 51%, 41%, 33%, 22% and 4.85% respectively. But compared to the US and Semir, which are in deep decline in 2012, the search results are so beautiful. Since its founding, it has made a difference with the US and Semir, which is an important reason for its sustained growth over the years.

But at present, compared with the innovation of consumer group expansion, multi brand layout and so on, the United States and Semir seem to be somewhat single.

Sportswear: Double declines remain closed.

Lining, Anta sports, 31st degree, PEAK sports, XTEP international, China's 6 major listings. Sports brand Net profit has started to slide since 2011, and this year is still falling, especially in Lining's serious losses.

In the first half, Anta's revenue was 3 billion 370 million yuan, down -14.4% compared to the same period last year, and net profit was 626 million yuan, down -18.69% compared to the same period last year. Lining's revenue was 2 billion 906 million yuan, down -24.6% compared to the same period last year, net profit loss was 184 million yuan, a sharp decrease of -515.9% compared with 44 million 294 thousand yuan a year earlier.

XTEP's revenue was 2 billion 98 million yuan, down -19.5% compared to the same period last year, net profit of 340 million 900 thousand yuan, down -27.13% compared to the same period last year. Revenue was 1 billion 998 million yuan, down -30.4% compared to the same period last year, net profit of 205 million yuan, down -65.54% compared with the same period last year.

PEAK's revenue was 1 billion 170 million yuan, down -27.3% compared to the same period last year, net profit of 90 million yuan, down -62.49% compared to the same period last year. China's revenue is 563 million yuan, down -32.3% compared to the same period last year, net profit of 92 million yuan, down -5.2% compared with the same period last year.

High storage is still plaguing 6 brands. In the first half of the year, they went to inventory less than 20%. Among them, PEAK and China's inventory declined by more than 30%, which were 340 million yuan and 236 million yuan respectively; Lining's inventory dropped to 841 million yuan, down nearly 26% compared with the same period last year, and the stock of 331% was still rising, increasing by 20%.

In terms of store operation, compared with men's clothing enterprises, the movement of sports brands has lasted for more than two years, and the scale is even bigger. In the first half of the year, Lining closed 410 stores, PEAK was 289, 331 degrees were 256, Anta was 241, XTEP was 75, and China's trend was the largest in the first half of the year, with a net reduction of 611. To sum up, the number of 6 major brands in the first half of the year was as high as 2249, and the number of closed stores was 1882.

According to the three quarterly report released, as of September 30th, the total number of stores was 31, 7569, and the number of outlets closed to 443. In the three quarter, there were nearly 5 outlets per day, and the net value of shops decreased by 257. The number of PEAK retail outlets was 6088, which was 395 less than that at the end of 2012.

On the whole, mass sports brand consumption demand is diverted from outdoor and leisure industries, and its own demand is decreasing. Inventory backlog seriously goes to stock shortage. The competition is intensified for the promotion of stock sales, the profits of brand dealers and distributors are greatly affected, and the series of problems such as inefficient stores dragging down performance and closure are still plaguing sports brands, and their performance recovery is relatively slow, and the whole sports brand industry is facing transformation.

Leading enterprises to accelerate the integration of weak market and big buyout Market

The acquisition of textile and garment industry is available every year, but interestingly, in 2013, when the capital market was sluggish and the retail consumer market continued to slack, the industry's acquisitions were more active than in previous years.

Semir clothing, which is considered to be conservative from the market, has changed its normal pattern this year, becoming the number one active clothing company in the capital market. In June 19th, it announced a huge sum of 1 billion 980 million yuan to 2 billion 260 million yuan to acquire 71% stake in Ningbo zhe Mu Shang, and the biggest acquisition of garment industry in recent years. China zhe Mu still has more than 1200 outlets in the mainstream department stores and shopping centers in the country. Its main brand GXG is the "dark horse" of the domestic fashion casual men's wear market, and has two brands of GXG 1978.jeans and gxg.kids. Although there were securities dealers questioned that GXG's online sales, direct business share and profit margins were not as high as Semir expected, subsequent integration also faced challenges, but GXG's online growth was indeed high. Since then, during the "double eleven" period, GXG single brand sales performance has broken one hundred million yuan, gxg.kids has increased 300% for the first time, GXG 1978.jeans has increased by 100%, and the group clothing brand performance has totaled 130 million yuan, creating a new high performance of GXG business. Through this big takeover, Semir entered the high-end menswear market and made substantive progress in developing high-end brand business and layout multi brand strategy.

Boston purchased the property in London in 2012 to build its flagship store and its European headquarters. In October 11th, it announced 40 million yuan to acquire GreenwoodsMenswea r96% equity of the British men's wear Brand Company, which has gained more internationalization and opened the multi brand operation of menswear business. The company has Greenwoods and 1860 two men's wear brands, and operates 88 clothing stores in the UK.

There are also major domestic animation costumes maker maishon culture and Shandong Ruyi group. Mei Sheng Culture announced in September 4th that it intends to acquire about 85% stake in Agenturen en HandelsmijScheepers B.V. of Holland, with a final transaction price of about 10 million 625 thousand euros. The target company is a well-known channel and retailer in Holland. It mainly hosts Carnival and festival gifts, costumes, accessories and animation costumes, and has http://www.partyxplosion.com and other products online sales website. The acquisition of Maison culture is based on the animation apparel industry foundation, which is conducive to further cognitions and development of the entire European market including Holland. At the same time, it can enhance the design capability, enhance the bargaining power of the core products of the company, and facilitate the industrial layout of the global market.

Pakistan Karachi Stock Exchange announced in early December that Shandong Ruyi Group intends to list Ma Su, a listed textile company in Pakistan.

The German textile mill has issued a takeover offer and plans to acquire 52% of its shares (31 million 200 thousand shares), but has not announced the purchase price. Compared with the acquired foreign company, Ruyi's acquisition of Chuang Ji has attracted more attention this year.

As the top 500 Chinese private enterprises and Wenzhou men's wear, Chuang Ji group was on the verge of bankruptcy at the end of 2012 and involved 30 billion yuan guarantee circle. In the middle of the year, the assets of Zhuang Qi group's clothing, shipbuilding, real estate and so on were announced to be dismantled and reorganized. Among them, the clothing assets holding power was purchased and reorganized by Ruyi group's Jining Ruyi Investment Co., Ltd. in August 30th, the two sides set up the new Wenzhou Zhuang Ji Garments Co., Ltd., 51% of the Ruyi group and 49% of Zhuang Ji.

As the downstream terminal of garment enterprises, facing the consumer market downturn and the sales of electric business, the department stores are divided into the entity department stores, and the department store market is also concentrated on the merger and acquisition of "big play" this year.

The Wangfujing group's controlling shareholder, Baer Mont, a wholly owned subsidiary of Beijing Wangfujing, acquired its 1 billion 664 million shares from the department store controlling shareholder Bluestone and Portico Global Limited in spring June, accounting for about 39.53% of its issued share capital. The deal triggered a mandatory full tender offer aimed at all shares in spring department stores.

After the completion of the tender offer in September 2nd, the department store was delisted from the HKEx in spring and became a wholly owned subsidiary of Wangfujing international. A listed department store completed the acquisition and delisting of another listed company for the first time in many years.

In May 27th, the new world department store's indirect wholly-owned Affiliated Companies invested 100 billion yuan to acquire Shanghai Hongxin Fashion Plaza for 710 million yuan. In October 15th, Shenyang New World Department Store acquired 100% stake in Shanghai Hui Department store for 280 million yuan. In December 14th, Beijing's department store "leader" Cui Wei shares announced that it intends to purchase 100% of the shares of Haidian's state-owned commercial center and 100% of the Gan Jia Kou building, with the estimated value of assets estimated at about 2 billion 458 million yuan, in the way of issuing shares and paying cash. Through this transaction, the company will have 9 stores, and the number of stores will increase by 50%.

It can be found that in the textile and garment industry and the physical retail market is facing a deep adjustment and transformation of the current, the sub categories of listed "leading enterprises" with sufficient capital advantages have staged "big fish eat small fish", become the main driving force of the industry consolidation and reorganization shuffle. According to their own strategic development needs, these enterprises are increasingly focusing on the global industrial competition pattern, using capital means, or acquiring domestic dominant brands, or integrating international industrial chains, becoming the winners and integrators of advantageous resources. The market has always been like this. 20% of the leading enterprises will divide up 80% of the resources of the industry, and their comprehensive competitiveness will be improved day by day. This is an important manifestation of the improvement of the business operation ability and the overall market competition.

Cross boundary extension seeks new growth points, and the trend of multi brands is getting stronger and stronger.

When their main businesses are facing development bottlenecks, many textile and apparel listed companies have chosen to open their minds, cross boundary and expand new products, and even enter a new industry, trying to find new growth points. This is particularly evident in 2013. Correspondingly, the market capacity of the single main brand is limited. When the enterprise enters the new field, it chooses the multi brand operation naturally.

In August 6th, BELLE shoes, the "boss" of women's shoes, announced that it would buy a 31.96% stake in Japanese women's clothing retailer Barok for $93 million 960 thousand. Barok's main women's wear and accessories are the parent companies of Japanese clothing brands such as Moussy, Sly and Rodeo Crowns. In 2012, there were 350 stores, with an income of 59 billion 800 million yen. BELLE hopes to enter the women's clothing market with its resources through the establishment of a series of joint ventures with Barok. In September 8th, BELLE announced that it would acquire a 100% stake in the Dragon world, with no consideration of more than 700 million yuan. The transaction is expected to be completed in the first quarter of 2014. Long ho world mainly sells shoes, bags and bags. Its own high-end footwear and leather goods brand SKAP has more than 600 outlets in China. It is the only local brand in the four high-end leisure shoes brand in China.

Semir apparel announced in August 3rd that it was working with the beautiful China Group subsidiary of China's Rainbow Fashion (Shanghai) to become China's regional agent for Italy's high-end children's wear brand Sarabanda and Minibanda. In addition, Semir and beautiful Pavilion will hold consultations on the establishment of a joint venture since July 1, 2014. With this agent, Semir layout high-end children's wear market, open the children's clothing market brand operation. In September 10th, Semir announced that it had established a joint venture with the Korean women's clothing company as a fashion designer to operate and sell the women's clothing brand "it MICHAA". It MICHAA is located in the high-end high-end urban fashion ladies, founded in 1999, is one of the mainstream Korean high-end women's clothing brand. The name of the joint venture company is named "Shanghai Summer Clothing Co., Ltd." with a registered capital of 50 million yuan. Semir apparel invested 25 million 500 thousand yuan, accounting for 51% of the shares, the first joint venture for 20 years. In November 28th, it announced that it signed an agreement with Marc O 'Polo International GmbH, a high-end leisure sports company in Germany, to become the general agent of MARC O' POLO in mainland China (excluding Hongkong, Macao and Taiwan) and enter the high-end leisure sports field.

In the middle of 2013, Pathfinder proposed a strategic concept of "outdoor autonomous travel service platform" to transform from "single outdoor product provider" to "integrated outdoor travel service platform provider". In August 14th, it announced that it would subscribe for 40 million new shares of Singapore's Asiatravel company with a total of $0.2 / share and a total of 38 million 666 thousand yuan. After the completion of the subscription, the Pathfinder will hold 14.15% of the company's shares (excluding stock stocks) and become the single largest shareholder of the company. Asiatravel has 14 years of experience in online travel service. The acquisition enables the Pathfinder to learn from his travel service system and management experience, and quickly expand the domestic outdoor travel service market, and create a one-stop booking management system for domestic outdoor travel service. In terms of multi brands, outdoor brand new leisure brand DiscoveryExpedition started online trial operation in June, besides the main brand Pathfinder and e-commerce brand arkeno.

In September 23rd, it announced that it would jointly invest 10 million yuan with Shanghai Jinsha investment and set up Shanghai Kami Fashion Co., Ltd., mainly engaged in the new agent international brand apparel business and its e-commerce business. Among them, the wedding bird invested 6 million 500 thousand yuan with its own capital.

In October 29th, it announced that it will set up a joint venture with OneWay, a Nordic outdoor sporting goods company, to design, produce, distribute and promote OneWay products in Greater China. Thirty one degree Investment Limited will invest 12 million yuan, with a 70% stake in a joint venture.

After the completion of the relevant procedures, the joint venture will get the exclusive right to use the "OneWay" trademark in Greater China and the product design, and the exclusive right to distribute OneWay international products.

To make casual wear, start making high-end men's wear, women's wear and children's wear, selling women's shoes to start selling men's shoes and women's wear, selling sportswear to start selling outdoor clothes, and selling outdoor clothes to start traveling, booking online booking rooms... The transformation of multi category, or even whole category retailers, is becoming the common choice of many enterprises. This general transformation, a few of them are active breakthroughs in the performance of the main brands, mostly in the passive transformation of the main brands after their plight, mainly in the form of acquisitions, joint ventures and international brand agents.

In the long run, many brands will have a "sweet" future. Apart from the main brand, the new brand with different levels and different levels of operation can occupy a wider market and seek new profit growth points. But the technology industry specializes in leaving the field of expertise to enter a new field. This unpredictable business risk is also something that businesses must bear.